Silver (XAGUSD) Down $0.25 in Last 4 Hours, And A Story About Brexit; Pin Bar Pattern Appearing on Chart

Silver Daily Price Recap

26.626 was the closing price of the day for Silver, resulting in today being one in which price moved down 0.94% ($0.25) from the previous day. Out of the 5 instruments in the metals asset class, Silver ended up ranking 3rd for the day in terms of price change relative to the previous day. Here is a daily price chart of Silver.


Silver Technical Analysis

Volatility for Silver has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 10 days Silver’s price has gone down 6 them. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Silver for the past day were:

  • From myprecious999:

    @RonStoeferle @markets This article incorrectly implies that the full brunt of the silver price increase is because of an expected collapse in fiat. The author neglects to say all commodities are being driven up by money printing, and the case for silver is strengthened by its green energy/EV demand

  • From Malik49977264:

    Alien Metals. The silver price has massive re-rating potential in my view. I am playing a gold to silver ratio compressing to 30x or less.
    On my numbers, #UFO is worth £45m on $25 silver (and other conservative assumptions). Imagine where fair value goes at $65+ #silver!

  • From SubhadipNandy:

    This is something , if you understand spreads and how silver price is settled, simply could not happen . Many traders even some small firms simply blew up. Margins were 5% and people had piled up positions and become extremely over leveraged

In terms of news links for Silver here’s one to try:

Gold price falls after 3 days; silver rates at Rs 67,700

Gold, Silver prices today: Prices of gold and silver were trading a tad lower in Indian as well as international commodity markets on Tuesday, as investors turned cautious awaiting the outcome of the European Central Bank meeting this week Gold, Silver prices in India on September 8: Gold price eased on Tuesday as the dollar strengthened after three sessions of gains….Gold and silver is trading lower today on the back of a sharp recovery in US Dollar as investors weighed whether an accommodative turn from the European Central Bank later this week could hit the euro, while the pound nursed losses due to Brexit uncertainty.”   “As of today, traders can go for sell in gold at Rs 51,100 levels with the stop loss of Rs 51,450 levels for the target of 50,200 levels.